Inaugural 'Cyprus Arbitration Day' Seminar 2023
Cyprus recently hosted its first-ever ‘Cyprus Arbitration Day: Arbitrating Disputes in the Middle East at Times of Dynamic Geopolitical Changes’. The seminar was organized by the Cyprus Arbitration Forum in Limassol, Cyprus.
The seminar created an exciting opportunity for arbitrators, legal practitioners, academics, and business professionals internationally to probe into the intricacies and future of arbitration in Cyprus. Featuring keynote speeches from esteemed international arbitrators and advocates, the seminar provided a global vantage point on commercial dispute resolution. The diverse range of panel discussions underscored the crucial role of arbitration in navigating the complexities of today’s globalized economy.
The seminar signifies the first step towards positioning Cyprus as a global arbitration hub. Cyprus, with its strategic location, sturdy legal system, and adherence to international law, is well-poised to emerge as a favored locus for international commercial dispute resolution.
The inaugural ‘Cyprus Arbitration Day’ sparked enthusiasm for a vibrant future for arbitration in Cyprus. The energetic response from the legal community signals a promising outlook for the evolution of dispute resolution in the region.
The seminar delved into the recent advancements and modifications within Cyprus’ judicial framework, including the establishment of a novel Commercial Court. This court, under specific circumstances, permits proceedings in English, a development that required considerable effort and time due to the necessity of amending Cyprus’ stringent constitution. This adaptation, combined with the fresh reforms in civil procedure rules and forthcoming modifications, is poised to invigorate the operations of Alternative Dispute Resolution in Cyprus. It also promises to expedite the enforcement of arbitral awards.
This seminal event marks Cyprus’s commitment to fortifying its arbitration capabilities. With the success of the seminar and the vibrant engagement from the legal community, this event is set to be the first of a series. The upcoming second ‘Cyprus Arbitration Day‘ Seminar, already in the works for next year, aims to expand its reach and deepen the discussions.
As a forward-thinking commercial law firm, we eagerly anticipate our involvement in future seminars and in the progress of arbitration in Cyprus.
